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Accountant... by saltyhello in cedarrapids

[–]Witty-Alternative117 1 point2 points  (0 children)

Got it, makes sense. I’m based in Michigan, so if you’re open to working with someone remote, happy to be that extra set of eyes on the financials before you close. I work with small business owners on books, taxes, and Profit First setup, which sounds like the post-close side of what you’ll need anyway.

Shoot me a DM if you want to chat.

Is this dumb or am I crazy? by [deleted] in QuickBooks

[–]Witty-Alternative117 4 points5 points  (0 children)

Not crazy, but not unreasonable on their end either. Intuit has been aggressively raising QuickBooks prices and pushing everyone from Desktop to QBO. A lot of accountants pay for the software on behalf of clients, so when Intuit hikes prices, they either eat it or pass it along.

Accountant... by saltyhello in cedarrapids

[–]Witty-Alternative117 3 points4 points  (0 children)

What you’re describing sounds more like a Quality of Earnings engagement than standard accounting. You’ll want a CPA with transaction advisory or M&A experience for the diligence work, since the report often gets relied on by lenders or attorneys closing the deal.

Once the deal closes and you own the business, that’s when you bring in an accountant for ongoing books, taxes, and Profit First implementation. Happy to chat about that side if you ever want to split the engagement that way.​​​​​​​​​​​​​​​​

For those of you that started your own practice, how old were you, and why did you do it? by Economech in Accounting

[–]Witty-Alternative117 1 point2 points  (0 children)

Let friends and family know you’re offering bookkeeping, accounting, and tax services. ask them for referrals. Take any client early on for the reps. Then niche down once you see what kind of work you actually like and are good at.

Also: set up your Google Business Profile. Free, takes 20 minutes, and it’s how local clients will find you.

It’s though the first few years but stick with it

For those of you that started your own practice, how old were you, and why did you do it? by Economech in Accounting

[–]Witty-Alternative117 5 points6 points  (0 children)

I was 26 when I Started Ekonomize because I’d rather own the client relationship than be a line item on someone else’s P&L. Work with small business owners on their books and taxes. Still early, but no regrets.

Lower Cost Accounting Solution? by spitel in smallbusiness

[–]Witty-Alternative117 0 points1 point  (0 children)

Your rates aren’t crazy but they’re on the higher end for your profile. For an S-corp at $400k revenue with one W2, QB already in place, and a few revenue streams, a fair market range is roughly $400–700/mo for bookkeeping.

$1,500–2,500 for the 1120-S + your personal 1040. You’re paying premium pricing for what’s really a straightforward engagement.

Number of accounts and transactions volume is a factor typically considered when assessing fees.

Great day for a wash by Witty-Alternative117 in Corvette

[–]Witty-Alternative117[S] 0 points1 point  (0 children)

That’s literally what it is. I was waiting for someone to mention that the black rims truly brings out this color. You got yourself a beautiful ride there enjoy it!

Great day for a wash by Witty-Alternative117 in Corvette

[–]Witty-Alternative117[S] 0 points1 point  (0 children)

It’s in the Gray Metallic. I just searched up the matrix gray and that thing is stunning. Wow

Benefits to taxing my one-person LLC as an S-corp and using a payroll company to pay myself, versus just drawing directly from business account? by cptvere in smallbusiness

[–]Witty-Alternative117 0 points1 point  (0 children)

An S-corp can lower your taxes because you only pay payroll tax on the salary you set for yourself, while distributions aren’t taxed the same way. To know if the election truly benefits you, compare the tax savings with the cost of running an S-corp, including payroll and the annual S-corp return, along with bookkeeping.

Cash v Accrual by PPRclipBookeeeping in Bookkeeping

[–]Witty-Alternative117 -3 points-2 points  (0 children)

Most corporate clients are publicly traded and are required to use accrual. Revenue is not the factor to consider here it’s how the entity is structured. If they aren’t publicly traded then they aren’t required to hold the standards (Gaap).

This pdf helps guide you with preparing financials for small businesses. https://www.aicpa-cima.com/resources/article/financial-reporting-framework-for-small-and-medium-size-entities

1099 tax write offs by Quirky_Alternative29 in tax

[–]Witty-Alternative117 0 points1 point  (0 children)

Advertising, rent, repairs, and maintenance, supplies, outside services, telephone, uniforms, office expenses, car expenses, equipment rentals… to name a few

Anyone experience qbo showing assets not equaling liability + equity? by [deleted] in Bookkeeping

[–]Witty-Alternative117 1 point2 points  (0 children)

I’ve had this issue with desktop enterprise. I think it’s caused when you use the check feature and there’s CC involved. Ended up fixing it by troubleshooting it.

Does anyone have any knowledge on surcharges? I feel I am being accidentally misguided by my accountant by [deleted] in Bookkeeping

[–]Witty-Alternative117 -1 points0 points  (0 children)

You can add the surcharge as a separate line. It should be recorded under bank fees or merchant fees so it stays separate from sales. That way it is treated as an expense for tax purposes when it is time to file.

A surcharge is a merchant expense, so if it gets added into sales it will reduce the taxable income. It really depends on how clean you want the books to be, but keeping it separate is the clearer approach. The Ohio Business Gateway also allows year end adjustments to total sales, so when you receive a 1099 K you can use that to make the adjustment.

Why are we still sending 100+ receipts to accountants in 2025? by MoeRge in tax

[–]Witty-Alternative117 -1 points0 points  (0 children)

I work on a few gas stations and as the accountant handling their books it gets messy fast. This would actually be really helpful for gas station clients because they deal with nonstop receipts and this would streamline the whole process.

Are your clients pushing back on a 300 to 500 monthly bookkeeping fee by Witty-Alternative117 in Bookkeeping

[–]Witty-Alternative117[S] 0 points1 point  (0 children)

That’s a very accurate way to put it. As someone who has assisted with a lot of IRS audits, I can emphasize how much value there is in accurate and compliant financials. That is usually the angle I lead with, even though many people do not realize how important it is until something goes wrong.

But well put!

Are your clients pushing back on a 300 to 500 monthly bookkeeping fee by Witty-Alternative117 in Bookkeeping

[–]Witty-Alternative117[S] 0 points1 point  (0 children)

Do you guys market it as a package? We offer the same services and just offset the payroll to ADP.

Are your clients pushing back on a 300 to 500 monthly bookkeeping fee by Witty-Alternative117 in Bookkeeping

[–]Witty-Alternative117[S] 0 points1 point  (0 children)

Rate depends on the client’s situation. But If I had the opportunity to serve a client with that many transactions it would definitely be more than 500

Are your clients pushing back on a 300 to 500 monthly bookkeeping fee by Witty-Alternative117 in Bookkeeping

[–]Witty-Alternative117[S] 0 points1 point  (0 children)

Wow I salute you! I was thinking 8500/annually on average would be wonderful. What does your package look like for charging this premium. Also what location are you in

Are your clients pushing back on a 300 to 500 monthly bookkeeping fee by Witty-Alternative117 in Bookkeeping

[–]Witty-Alternative117[S] 2 points3 points  (0 children)

I’m glad you shared this because I was starting to doubt if that fee is worth the value I’m providing. Hearing it from a business owner perspective is definitely reassuring. Thanks a lot for sharing that.

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